Why is Sigachi Indust. falling/rising?

As of 28-Aug, Sigachi Industries Ltd is experiencing a decline in its stock price, currently at Rs 30.73, reflecting a decrease of -0.27 (-0.87%). The stock has been underperforming, with a consecutive fall over the last two days resulting in a total drop of -3.18%. It is also trading close to its 52-week low, just 0.62% away from Rs 30.54. Over the past week, the stock has decreased by -2.10%, and its performance over the last month shows a significant decline of -20.66%. Despite a low debt-to-equity ratio and an attractive valuation with a return on equity of 11.6%, the stock's performance has been negatively impacted by a pledge of 45.37% of promoter shares, which adds downward pressure in a falling market. Additionally, the company reported flat results in its latest quarter, with a notable drop in profit before tax.
In the broader market context, Sigachi Industries' recent performance contrasts with the benchmark Sensex, which has declined by -2.34% over the past week. The stock's long-term performance is also concerning, with a staggering -49.43% return over the past year, significantly underperforming the BSE500 index. This underperformance is compounded by a decrease in investor participation, as evidenced by a -27.82% drop in delivery volume compared to the five-day average. Overall, the combination of poor short-term returns, high promoter share pledges, and disappointing financial results has contributed to the stock's downward trajectory.